The Mystery of Dutch Schultz’s Fortune


Dutch Schultz was a gangster in the 1920s and 1930s, who made his fortune by bootlegging alcohol and the numbers racket. Like all gangsters, he was pretty sure somebody was going to try and kill him because — like a lot of gangsters — he had a boatload of money. So, he decided to hide somewhere in the neighborhood of $5-$9 million in cash, gold and jewels in an iron box. He drove it out to the Catskill Mountains near Phoenicia, New York, and he and his bodyguard, Bernard “Lulu” Rosenkrantz, buried it. Some say he even marked a nearby tree with an "X." Sure enough, Dutch was murdered not long after, gunned down in a New Jersey steakhouse in 1935. His treasure, if it ever existed at all, is still out there somewhere, just waiting for somebody to notice a tree with a big X marked on it. Locals in Phoenicia were questioned at the time and some reported having seen two men wearing fedora hats with shovels in a grove of pine trees along Esopus Creek near Phoenicia. Today, it is said that the treasure has never been recovered and remains hidden somewhere in upstate New York.